Commissioner of Income-tax(Central) v. Keti Construction Ltd

IT: Where assessee had not paid self assessment tax in return of income under sections 153A and 143(2), application for settlement was not valid
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[2016] 65 taxmann.com 263 (Madhya Pradesh)
HIGH COURT OF MADHYA PRADESH
Commissioner of Income-tax(Central)
v.
Keti Construction Ltd.*
P.K. JAISWAL AND J.K. JAIN, JJ.
WRIT PETITION NO. 6313 OF 2014
JULY  7, 2015
Section 245C of the Income-tax Act, 1961 - Settlement Commission - Application for settlement of cases (Validity of) - Assessment years 2006-07 to 2012-13 - In respect of assessment years in question respondent assessee made an application to Settlement Commission for settlement of case - In such an application, respondent declared an undisclosed income of Rs. 1.58,00,000 - For said years, respondent had filed returns of income under section 139(1) and after issue of notices under section 153A for said years, he had offered to tax Rs. 34,74,39,663, which was total amount admitted under section 132(4) for aforesaid years, but tax and interest computed suo moto was not paid and was shown as payable - Whether respondent was required to deposit additional tax on Rs. 34,74,39,663 and due to non-payment of taxes due therein application under section 245D(2C) would not be valid - Held, yes [Para 33] [In favour of revenue]